The Owners of the Gas Stations in a Town Are

question 25

Multiple Choice

The owners of the gas stations in a town are trying to set up a cartel that will raise the price of gasoline.Which of the following will increase the chances that the cartel will fail because of cheating by the owners?

• A)All of the gas stations face the same costs.
• B)There are only a few gas stations..
• C)The gas stations are producing as much as they can.
• D)The gas stations vary in terms of the services that they provide.

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Definitions:

Acceptance

The act of agreeing to the terms of an offer, contract, or proposal, creating a binding agreement.

Additional Terms

Supplementary conditions or provisions added to a contract that were not included in the original agreement.

Statute Of Frauds

A state statute under which certain types of contracts must be in writing to be enforceable.

Signed By Parties

Indicative of an agreement or document that has been formally endorsed or authenticated by those involved.